A realtor found a deal on a housing development and thinks it can be sold for $658,813 in 4 years due to future commercial development. Using an annual discount rate of 2.14%, what is the present value of this land?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A realtor found a deal on a housing development and thinks it can be sold for $658,813 in 4 years due to future commercial development. Using an annual discount rate of 2.14%, what is the present value of this land?
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